Is the market a test of truth and beauty? : essays in political economy

Professor Leland B. Yeager is one of the giants of the generation after Ludwig von MIses. He was Mises's student and translator - and has made a lifetime of contributions to policy, theory, method, ethics, and aesthetics from the point of view of a champion of freedom and a deep respect for the Austrian tradition. This vast but affordable collection is a tribute to the range of his brilliance and erudition, and a reminder that his contributions are enormous. Many of the essays found herein are nearly lost or unavailable. Yeager selected them with an eye toward the essays that most pertain to the Austrian tradition and the moral imperative of the free society. The title essay is one of the more controversial articles to ever appear in economic literature. It began as a response to the criticism that if Misesian economics were so great, it would be the market leader within the profession. Yeager responds with a general theory of market dominance and its relationship to issues of truth and beauty. He argues that we cannot use the market as the final test to determine aesthetics or the value of truth claims. These must come from outside market analytics. The essay offers a profound clarification of the role of economics and markets. And it is an archetype of the type of thinking that Yeager has published through his long career. He is an iconoclast, a truly independent thinker with a bold way of approaching core issues. Even where one disagrees, he helps advance careful thinking and rigorous analysis. His many students through the years have hoped for a volume with his most interesting, provocative, and thrilling essays - and it is here at last. This book will more firmly entrench his reputation as a giant within the Austrian oeuvre. Is the Market a Test of Truth and Beauty?: Essays in Political Economy 538 pages Contents: Introduc|cut Goto mises dot org store for more info Content: Should Austrians scorn general equilibrium theory? -- Why subjectivism? -- Henry George and Austrian economics -- The debate about the efficiency of a socialist economy -- The debate over calculation and knowledge -- Austrian economics, neoclassicism, and the market test -- Is the market a test of truth and beauty? -- Macroeconomics and coordination -- The Keynesian heritage in economics -- Hutt and Keynes -- The image of the gold standard -- Land, money, and capital formation -- Tacit preachments are the worst kind -- Tautologies in economics and the natural sciences -- Free will and ethics -- Elementos del economia politic -- Is there a bias toward overregulation? -- Economics and principles -- American democracy diagnosed -- Civic religion reasserted -- A libertarian case for monarchy -- Uchronia, or alternative history -- Hayek on psychology of socialism and freedom -- Kirzner on the morality of capitalist profit -- Mises and his critics on ethics, rights, and law -- The moral element in Mises's Human action -- Can a liberal be an egalitarian? -- Rights, contract, and utility in policy espousal. This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.